Mr. Ronald Perry reports

METANOR INTERSECTS 5.6 G/T AU OVER 25.2 M AT BACHELOR MINE

Metanor Resources Inc. has provided an update on its underground exploration drilling program at Bachelor mine. The development of a ramp below level 14 toward level 15 continues and has allowed for the construction of a drill station well positioned to define additional resources below level 14.

The drilling continued in July and the details of the intersections obtained from the drill holes are described in the attached table.

Hole                  from          To      Length     Grade Au        Zone        
                        (m)         (m)         (m)        (g/t)         

14-120                38.5        41.4         2.9          2.4      15-0-3
14-120                50.6        52.5         1.8          2.6      15-0-3
14-120                79.0        82.3         3.3          1.9      15-0-3
14-125                84.8        85.4         0.6         12.5      15-0-3
14-126                72.4        97.6        25.2          5.6      15-0-3
Including             72.4        80.8         8.4          9.2      15-0-3
Including             90.6        97.6         6.9          7.7      15-0-3
14-127                89.9        91.5         1.5          8.3      15-0-3
14-128                52.7        54.0         1.2          5.8      15-0-3
14-128                58.7        59.7         1.0          9.8      15-0-3
14-128                88.6        89.5         0.9          2.9      15-0-3
14-129                90.1        91.3         1.2          4.3      15-0-3
14-130               101.6       107.2         5.7          5.5      15-0-3
14-131                90.5       100.2         9.7          2.4      15-0-3
14-132                73.4        75.6         2.3          7.3      15-0-1
14-132               103.7       109.8         6.1         11.1      15-0-1
14-134                98.8       101.2         2.4          7.3      15-0-3
14-135               139.1       140.4         1.3          4.1      15-0-3
14-136                76.9        79.0         2.1          1.8      15-0-1
                                                          

Many holes intersected more than one zone over the length of the hole. The interpretation is under way to determine the dimension of the additional zones. The mining development continues toward the recently drilled sectors. The development reached the ore zone on the first sublevel below level 14, and is continuing toward the second sublevel.

Metanor estimates that the mineralized intercepts' true thicknesses reach 60 to 65 per cent of the drill cores. A capping of 31 grams per tonne was used, or one gold ounce. The company uses a rigorous, industry-standard, QA/QC (quality assurance/quality control) program. The samples were assayed by fire assay at the Metanor assay lab. Blanks, duplicates and certified reference standards are inserted into the sample stream to monitor laboratory performance. The quality control program of the assay results (QA/QC) adopted by Metanor includes a minimum of 10 per cent of controlled assays being conducted, as well as verification by an independent ALS-certified assay laboratory in Val d'Or, Que. Results of the spot checks were consistent with those reported.

In addition, Metanor's website has been updated. The company invites readers to visit the new site.

Qualified persons

Pascal Hamelin, PEng, vice-president of operations, is the qualified person under NI 43-101 responsible for reviewing and approving the technical information contained in this news release.

We seek Safe Harbor.